Medicines Co. reports Q2 loss

Medicines Co.
MDCO, +2.92%
reported second-quarter financial results early Wednesday, including a smaller-than-expected profit loss and a revenue miss. The company reported a loss in the latest quarter of $54.20 million, or a loss of 74 cents per share, after a loss of $397.27 million, or a loss of $5.53 per share in the year-earlier period. The latest results included restructuring charges of $6.1 million. Adjusted earnings-per-share came to a loss of 63 cents, above the FactSet consensus of a loss of 84 cents. Revenue declined to $1.67 million from $10.86 million, while the FactSet consensus was $7.2 million. Medicines Co. had $162.5 million in cash and cash equivalents as of June 30, compared with $515.4 million at the end of last year. Company shares were not active in premarket trade. Shares have surged 36.2% over the last three months, compared with a 6.1% rise in the S&P 500
SPX, +0.64%
and a 5.5% rise in the Dow Jones Industrial Average.

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